Newmark is pleased to present an exceptional value-add investment opportunity for qualified investors: the acquisition of the leasehold interest in Hookston Square. This distinguished Class A office complex encompasses two structures, with a total area of approximately ±207,557 square feet, located in the thriving Pleasant Hill, California.
Hookston Square, currently 76% leased to a diverse mix of 36 tenants with no single tenant representing more than 16% of the property. The Property benefits significantly from its prime location within Pleasant Hill and Contra Costa County, less than a mile from Pleasant Hill BART and easy access to I 680 and Highway 24. The property is surrounded by a diverse array of retail and residential amenities and features a beautifully enhanced common area courtyard with water features, making it a highly appealing venue for tenants.
With its stable in-place cash flow, Hookston Square represents an excellent investment opportunity, offering value-add returns through the leasing of the remaining 24% of the property. The Pleasant Hill office market has demonstrated impressive performance, being the best performing submarket in the North I-680 corridor, with a vacancy rate of just 9.3% and an average asking rent of $2.44 per square foot per month.
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